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Mmastodon WorldLaw & Courts first seen 9 h ago, last 11 min ago, peak #1

Treasury targets Bank of America over money-laundering failures

Original: Who neglected to pay tribute to the king? https:// apnews.com/article/treasury-ba nk-of-america-money-laundering-29013b2

The US Treasury Department has taken action against Bank of America in a case involving money laundering, according to an Associated Press report. The story is drawing commentary framed as a slap at one of America's biggest banks, with some online joking that the bank failed to 'pay tribute to the king', reading the enforcement move as political rather than purely regulatory.

Why now: A major US bank facing federal money-laundering action from the Treasury is newsworthy, and commenters suspect political motivations.

Bank of AmericaUS Treasury DepartmentAssociated Press

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